Hog markets slip as weak pork demand weighs on prices - CME
Cattle futures rise on Wall Street boost, firm cash prices
16 June 2026
1 minute read
By: Chicago Mercantile Exchange (CME) cattle futures closed higher on Monday, supported by relatively firm cash cattle prices and spillover from high-flying US equity markets, Reuters reported, citing analysts.
The Nasdaq climbed 3% and the Dow marked a record-high close after the United States and Iran struck a preliminary agreement to end the Middle East war and reopen the Strait of Hormuz, leading to an easing of inflation fears as crude oil prices dropped.
Strength on Wall Street tends to support optimism about consumer demand for pricey cuts of beef, said Don Roose, president of Iowa-based US Commodities.
"It goes to the heart of the demand side.... People are feeling a little more stable with their finances," Roose said.
Cash cattle markets cooled slightly last week but maintained a premium to futures, making futures seem under-priced, Roose said. "The discounts are too big versus the cash," Roose said.
Market-ready cattle traded in the cash market late last week at around $255 to $256 per hundredweight (cwt) in Texas and Kansas, compared to $256 to $258 the prior week. But the prices were still above CME live cattle futures, which traded below the equivalent of $251 per cwt.
Thinly traded CME June live cattle futures settled on Monday at 250.625 cents per pound, up 0.750 cent on the day, while most-active August ended 2.075 cents higher at 243.250 cents a pound.
CME August feeder cattle futures closed 4.125 cents higher at 361.550 cents per pound.
Rising beef prices lent support. The US Department of Agriculture priced choice cuts of beef at $395.05 per cwt on Monday afternoon, up $3.12 from Friday.
Hog futures closed lower as wholesale pork prices continued to sputter. The USDA priced pork carcasses Monday afternoon at $97.12 per cwt, down 27 cents from Friday.
"Domestic consumption continues to be slow," Roose said.
CME July lean hog futures settled down 0.875 cent at 96.575 cents per pound, while most-active August ended down 0.575 cent at 95.775 cents.
